Corebridge Financial Inc. Sells 261 Shares of BlackLine $BL

Corebridge Financial Inc. lessened its holdings in shares of BlackLine (NASDAQ:BL) by 0.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,263 shares of the technology company’s stock after selling 261 shares during the quarter. Corebridge Financial Inc.’s holdings in BlackLine were worth $1,465,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Stifel Financial Corp raised its holdings in BlackLine by 60.2% in the fourth quarter. Stifel Financial Corp now owns 6,561 shares of the technology company’s stock worth $399,000 after purchasing an additional 2,465 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in BlackLine in the fourth quarter worth $280,000. Northern Trust Corp raised its holdings in BlackLine by 14.9% in the fourth quarter. Northern Trust Corp now owns 745,397 shares of the technology company’s stock worth $45,290,000 after purchasing an additional 96,523 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in BlackLine by 17.4% in the fourth quarter. Ameriprise Financial Inc. now owns 388,594 shares of the technology company’s stock worth $23,611,000 after purchasing an additional 57,708 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in BlackLine by 365.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 405,801 shares of the technology company’s stock worth $24,656,000 after purchasing an additional 318,647 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

BL has been the topic of several recent analyst reports. Morgan Stanley increased their price objective on BlackLine from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Cantor Fitzgerald assumed coverage on shares of BlackLine in a report on Tuesday, June 3rd. They issued a “neutral” rating and a $58.00 price objective on the stock. Raymond James Financial raised shares of BlackLine from a “market perform” rating to an “outperform” rating and set a $67.00 price objective on the stock in a report on Tuesday, July 29th. Wall Street Zen downgraded shares of BlackLine from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. Finally, Truist Financial raised their price objective on shares of BlackLine from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $61.08.

Insider Activity

In other news, CAO Michelle D. Stalick sold 664 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $54.03, for a total value of $35,875.92. Following the completion of the sale, the chief accounting officer directly owned 23,830 shares of the company’s stock, valued at $1,287,534.90. This represents a 2.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.60% of the stock is currently owned by company insiders.

BlackLine Stock Performance

Shares of NASDAQ BL opened at $52.61 on Thursday. The firm has a fifty day moving average price of $54.29 and a 200-day moving average price of $51.83. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a market cap of $3.26 billion, a PE ratio of 40.78, a price-to-earnings-growth ratio of 8.92 and a beta of 0.95. BlackLine has a 1 year low of $40.82 and a 1 year high of $66.25.

BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $172.03 million during the quarter, compared to analysts’ expectations of $170.87 million. BlackLine had a net margin of 13.05% and a return on equity of 15.95%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.58 earnings per share. BlackLine has set its FY 2025 guidance at 2.130-2.240 EPS. Q3 2025 guidance at 0.480-0.510 EPS. Equities analysts anticipate that BlackLine will post 0.9 earnings per share for the current fiscal year.

BlackLine Profile

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.